Bank of America Cuts Victoria’s Secret & Co. (NYSE:VSCO) Price Target to $35.00

Victoria’s Secret & Co. (NYSE:VSCO) had its target price dropped by equities research analysts at Bank of America from $40.00 to $35.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “underperform” rating on the stock. Bank of America‘s price target points to a potential downside of 3.74% from the company’s current price.

VSCO has been the topic of a number of other research reports. JPMorgan Chase & Co. upgraded shares of Victoria’s Secret & Co. from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $29.00 to $45.00 in a research note on Monday, December 9th. Jefferies Financial Group boosted their price objective on shares of Victoria’s Secret & Co. from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Barclays raised shares of Victoria’s Secret & Co. from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $51.00 to $53.00 in a research report on Tuesday. Wells Fargo & Company restated an “equal weight” rating and set a $45.00 target price (up from $33.00) on shares of Victoria’s Secret & Co. in a research report on Monday, December 9th. Finally, UBS Group upgraded shares of Victoria’s Secret & Co. from a “sell” rating to a “neutral” rating and upped their target price for the stock from $18.00 to $47.00 in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $42.82.

Victoria’s Secret & Co. Stock Up 0.6 %

NYSE:VSCO traded up $0.20 on Thursday, hitting $36.36. The stock had a trading volume of 610,846 shares, compared to its average volume of 1,934,926. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.33 and a current ratio of 1.17. The stock has a market cap of $2.86 billion, a P/E ratio of 18.81, a price-to-earnings-growth ratio of 2.28 and a beta of 2.14. The firm’s fifty day simple moving average is $40.63 and its two-hundred day simple moving average is $30.50. Victoria’s Secret & Co. has a 1 year low of $15.12 and a 1 year high of $48.73.

Victoria’s Secret & Co. (NYSE:VSCO) last announced its earnings results on Thursday, December 5th. The company reported ($0.50) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.62) by $0.12. Victoria’s Secret & Co. had a return on equity of 44.74% and a net margin of 2.47%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the firm posted ($0.86) EPS. The business’s revenue was up 6.5% compared to the same quarter last year. Analysts predict that Victoria’s Secret & Co. will post 2.31 earnings per share for the current year.

Institutional Investors Weigh In On Victoria’s Secret & Co.

Several large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Victoria’s Secret & Co. by 13.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 917,017 shares of the company’s stock valued at $16,206,000 after buying an additional 109,013 shares during the period. Sei Investments Co. lifted its stake in shares of Victoria’s Secret & Co. by 1.9% in the second quarter. Sei Investments Co. now owns 175,553 shares of the company’s stock valued at $3,102,000 after purchasing an additional 3,253 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Victoria’s Secret & Co. by 234.9% in the second quarter. The Manufacturers Life Insurance Company now owns 41,577 shares of the company’s stock valued at $735,000 after purchasing an additional 29,161 shares during the period. Algert Global LLC lifted its stake in shares of Victoria’s Secret & Co. by 107.6% in the second quarter. Algert Global LLC now owns 97,321 shares of the company’s stock valued at $1,720,000 after purchasing an additional 50,451 shares during the period. Finally, Quarry LP lifted its stake in shares of Victoria’s Secret & Co. by 126.6% in the second quarter. Quarry LP now owns 3,157 shares of the company’s stock valued at $56,000 after purchasing an additional 1,764 shares during the period. 90.29% of the stock is owned by institutional investors and hedge funds.

Victoria’s Secret & Co. Company Profile

Victoria’s Secret & Co operates as a lingerie, clothing and beauty retailer. It offers bras, panties, lingerie, pajamas, sleep, sport and swim apparel, and beauty products. The company was founded in 1963 and is headquartered in Reynoldsburg, OH.